Wema Bank committed to nurturing future innovators — MD

Moruf Oseni, Managing Director and CEO of Wema Bank, has reiterated the financial institution's dedication to empowering youth-led innovation and fostering long-term economic growth across Africa. Speaking at a press conference in Lagos, Oseni emphasized that modern corporations have a social responsibility extending beyond traditional banking services.

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At Wema Bank, we believe that institutions have a responsibility that extends beyond providing commercial services. We have a responsibility to create meaningful opportunities, provide the right resources, enable innovation to thrive, and support the ecosystems that will shape today’s youth as well as tomorrow’s economy.

Oseni stated that institutions must create meaningful opportunities, provide essential resources, enable technological innovation, and support the economic ecosystems that shape both current youth and the future economy. This commitment, he explained, has been the driving force behind the expansion and evolution of the bank's Hackaholics initiative since its inception in 2019.

Wema Bank is now launching Hackaholics 7.0, under the theme "Powering Possibilities." This iteration is designed to be the largest yet, continuing the bank's investment in the next generation of African innovators. The program aims to inspire technological solutions that positively impact lives, strengthen Nigeria's innovation ecosystem, and provide young creatives with a structured platform to maximize their potential.

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This sense of responsibility is what has driven the evolution of Hackaholics from inception to date.

Over its seven-year history, Hackaholics has demonstrated significant impact. The initiative has engaged more than 50,000 participants, provided support to over 10,000 startups, and developed more than 100 digital solutions from the ground up. To date, Wema Bank has disbursed a cumulative $500,000 in grant prizes to numerous winners across the previous six editions.

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With Hackaholics, we have, and we are investing in the next generation of innovators, inspiring innovation that will impact lives, strengthen Nigeria’s innovation ecosystem and give youth a platform to make meaningful use of their creativity; and the numbers continue to speak volumes.